Abstract
Due to the rapid diffusion of social mobile payment (SMP), the current research explores the post-adoption behavior of SMP users. It proposes a research model to determine the core predictors of users’ continuance intentions to use SMPs. Through the analysis of survey data from South Korea, it indicates that satisfaction strongly and positively affects users’ continuance intentions. Moreover, satisfaction is influenced by perceived usefulness (PU), security, and enjoyment. Interestingly, although perceived ease of use (PEU) does not directly affect satisfaction, it can indirectly influence satisfaction via users’ PU and perceived enjoyment. Furthermore, perceived ubiquity has strong effects on users’ PU and PEU. The study also discusses meaningful implications, and provides suggestions for future studies.
Highlights
With the rapid development of social network platforms and financial technology, social network platform-based mobile payment services have emerged and changed people’s lives
The current research demonstrates the effectiveness of a technology acceptance model (TAM) and expectation-confirmation theory (ECT)-based model in explaining users’ behavior towards Social mobile payment (SMP)
The explanatory power of the model is relatively high when compared to the results in Kumar et al [71], Park [11], and other relevant studies
Summary
With the rapid development of social network platforms and financial technology, social network platform-based mobile payment (i.e., social mobile payment) services have emerged and changed people’s lives. WeChat Pay, based on China’s most prominent social networking platform (i.e., WeChat), occupied roughly 39.5% of the Chinese mobile payment market in 2019 [1]. The number of WeChat Pay users has surpassed 800 million [2], accounting for roughly 57% of the population in China. KakaoPay, built on KakaoTalk (one of the most widely utilized social network platform in South Korea [3]), provides a similar banking service using the social media application as its base. KakaoPay launched its own bank account service, called KakaoBank, which has broadened to various investment options and surpassed $17.7 billion in transactions during 2018, cementing itself as the sector leader in South Korea [4]. The number of KakaoPay users was above 30 million in 2019 [5], accounting for more than 60% of the population in South Korea
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